This week, the Birmingham Business Alliance (BBA) spoke with the CEO of Medical Properties Trust Inc., Ed Aldag, as part of our series to highlight the three finalists for the 2017 Ernst & Young Entrepreneur of the Year Awards. The BBA was proud to help nominate American Family Care, Medical Properties Trust Inc. and Shipt for the honor. Each week leading up to the announcement of a winner in June, we will feature the investor finalists.
Medical Properties Trust Inc. (MPT) is a real estate investment trust that has carved a unique niche in the largest and fastest-growing segment of the economy, making it the second largest owner of hospital beds in the U.S. Unlike other real estate investment trusts, MPT focuses exclusively on providing capital to acute care facilities of all kinds through long-term triple-net leases.
BBA: Tell us about your company.
Ed Aldag: Medical Properties Trust Inc. (MPT) is a different kind of real estate investment trust – by design. By allowing health care operators to tap the value of their real estate and channel that capital into facility improvements, technology upgrades, staff additions and even new construction, MPT bridges the gap between the growing demand for high-quality health care and the ability to deliver it efficiently and cost-effectively. In essence, MPT enables hospitals to increase their returns from what they know best – operations. By implementing its solid business model and deploying the talent of a diverse management team that understands the nuances of health care financing and health care operations, MPT has managed to grow its assets to more than $9 billion in a little over 10 years. Today, MPT is the second largest owner of hospital beds in the US.
BBA: How did you get your start in business?
Aldag: I started MPT in 2003 and was joined by Emmett McLean and Steve Hamner to begin operations in 2004. After a successful initial equity funding in 2004, MPT went public in 2005 and was listed on the NYSE in July, 2005.
BBA: Did you always want to be an entrepreneur?
Aldag: I always wanted to control my own destiny. Since I was very young, I knew I wanted to create something big that made a difference in this world. Today, as the second largest owner of hospital beds in the U.S. and operating in five countries, MPT provides health care to people all across the country and western Europe.
BBA: How does being in Birmingham help your business grow?
Aldag: I purposely chose Birmingham to be the home of MPT. Birmingham has been a wonderful place to not only recruit employees to, but to entertain prospective and actual clients from all over the world.